Variable Interest Entities (Tables)

3 Months Ended

Sep. 30, 2024

The following table summarizes the carrying amounts of TB1’s assets and liabilities included in the Group’s

condensed consolidated balance sheet as of September 30, 2024 and June 30, 2024:


	September 30, 2024	June 30, 2024
ASSETS
Current assets
Cash and cash equivalents	$8,454,574	$1,488,541
Trade and other receivables:
Joint interest billing	3,096,440	10,298,322
Intercompany receivable	5,526,088	7,415,684
ATO receivable	1,138,054	615,480
Prepaid expenses and other current assets	1,805,605	1,476,094
Total current assets	20,020,761	21,294,121
Natural gas properties, successful efforts method:
Unproved properties	194,418,892	167,998,061
Assets under construction- natural gas equipment	10,411,398	7,542,064
Finance lease right-of-use assets	19,096,969	20,697,452
Prepaid expenses and other non-current assets	402,565	385,215
Total non-current assets	224,329,824	196,622,792
TOTAL ASSETS	$244,350,585	$217,916,913

LIABILITIES
Current liabilities
Accounts payable and accrued expenses	$12,098,118	$10,569,865
Current portion of finance lease obligations	18,795,312	12,767,400
Total current liabilities	30,893,430	23,337,265
Finance lease obligations	10,193,335	14,141,713
Asset retirement obligations	4,821,472	4,174,178
Loan from Tamboran	128,124,936	113,096,572
Total non-current liabilities	143,139,743	131,412,463
TOTAL LIABILITIES	$174,033,173	$154,749,728